Hungary: Stranded Wire Market 2024

Stranded Wire Market Size in Hungary

The Hungarian stranded wire market soared to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption, however, recorded a noticeable shrinkage. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Stranded Wire Production in Hungary

In value terms, stranded wire production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Stranded Wire Exports

Exports from Hungary

In 2022, overseas shipments of stranded wire, ropes and cables decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, stranded wire exports skyrocketed to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of stranded wire exports from Hungary, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stranded wire exported from Hungary were Germany ($X), the United States ($X) and the Czech Republic ($X), together comprising X% of total exports.

Among the main countries of destination, the United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average stranded wire export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, stranded wire export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into Hungary

In 2022, the amount of stranded wire, ropes and cables imported into Hungary rose remarkably to X tons, surging by X% against 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, stranded wire imports expanded significantly to $X in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of stranded wire to Hungary, accounting for a X% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), threefold. The third position in this ranking was held by Germany (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (X% per year) and Germany (X% per year).

In value terms, China ($X), Germany ($X) and Slovakia ($X) constituted the largest stranded wire suppliers to Hungary, together comprising X% of total imports. Turkey, Poland, Romania, Ukraine, Vietnam and the Netherlands lagged somewhat behind, together comprising a further X%.

Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average stranded wire import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price, however, saw a noticeable shrinkage. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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